Mesabi Trust: No Boom, But Long-Term Outlook Remains Stable [Seeking Alpha]
Mesabi Trust (MSB)
US:NYSE Investor Relations:
mesabi-trust.com
Company Research
Source: Seeking Alpha
Mesabi Trust: No Boom, But Long-Term Outlook Remains Stable Summary Iron ore prices slipped in August, along with Mesabi's unit price. Q2 volume shipments were disappointing. … But Cleveland Cliffs' HBI plant will add stability to production volume from 2020. My fair value estimate is $27.25 per unit but the 11% upside doesn’t entice me to buy yet. This article was selected to be shared with PRO+ Income subscribers - find out more here Since my last MSB Source: author’s own estimates. It looks like there is reason to trim expectations of iron ore prices in the near term after a spectacular 27% slide in spot prices 10-Q Per Mesabi’s own reading, the decline is due to anticipated weak demand. This is interesting given the bullish narrative surrounding Cleveland Cliffs' ( CLF Another issue is the narrowing spread between the global market and the Minnesota market for iron ore pellets. In my previous article, I used the chart below to show this. Since, I have added 2020e that shows how I
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Sec Filings
- 4/24/24 - Form ARS
- 4/24/24 - Form 10-K
- 4/16/24 - Form 8-K
- MSB's page on the SEC website